Long Term Care Insurance
What is long term care insurance?
Long term care insurance is an insurance product that sold in the United States and United Kingdom; its concept is to provide patients who suffer disabilities and chronic illnesses such as Alzheimer’s and Parkinson’s disease and cancer.
Why people need long term care insurance?
Parkinson’s disease is a kind of paralysis, especially of old people, characterized by muscular tremor, slowing of movement. Alzheimer’s disease is a progressive disease involving the blood vessels of the brain and leading to premature senile dementia. Patients of these two diseases are normally inert in movement, they need long term care, and the basic nursing cares needed are bathing, dressing, combing, eating and other daily living activities. Another type of chronic disease is cancer; the patient needs not only cares but also medicines. The treatment of cancer is very expensive, and a heavily sick patient usually lies on the bed most of the time, he needs feeding and all sorts of care, because physically he is lack of strength.
People purchase long term care insurance is to prevent they give burdens to their family when they are old and especially if they are so unfortunate to contract the above diseases. Anyone who suffers chronic disease really needs care because physically he can’t handle the daily necessary living activities. So, with this coverage the insured can be taken care of, he can employed nurses to take care of him at home or he can live in the nursing home.
Long term care insurance benefits
Long term care insurance provides coverage for necessary medical or personal care outside the hospital or in a nursing home, or even at the insured’s home.
· You can choose long term care policy that pay for nursing home care or only for home care.
· Daily or monthly benefit – the insurance company will pay the insured his daily or monthly expenses, but if the benefit is insufficient the insured needs to pay the balance himself.
· Benefit period – the insured can choose a benefit period from two to five years or his entire life.
Considerations to be taken
· The policy should be renewable.
· You can stop paying premiums once you begin to receive benefits.
· The policy offers choices for inflation protection.
· Should clearly explain when you will be eligible for coverage
· Allow you to reduce the coverage and thus reduce your premium if you can’t afford.
· Provide you the minimum one year of nursing care.
Of course, there are many more, you can make more inquiries and get your free quote by clicking the banners or enter your zip code..
Is long term care insurance necessary?
Long term care insurance provides the insured daily care if he/she can’t take care of him/herself due to chronic illnesses, it covers cares not provided by health insurance, Medicare or Medicaid.
In some countries this kind of policy does not exist. If a patient who has children or family folks, and if he needs long term care, the hospital will ask his children to take him to private nursing home or old folk’s home, of course at their own expenses. If a patient can’t afford the medical cost of a private hospital, he can choose to admit to government hospital. The government sponsored hospitals provide very cheap medical treatment, so that the patients can afford. If a patient out stayed a desirable period but still needs medical care, and he can’t afford to pay for the cost, he can apply to social welfare sponsored nursing home, and for free, until his dying day.
Some people regard long term care insurance as unnecessary, because the premiums are expensive; moreover, the self-contradiction is you pay something you hope you will never use it. Any how, whether you need or you don’t, it will cost you nothing if you know about this policy, see what it can provide you and how much is the premium?
It is very simple to get your free quote, just enter your Zip Code, you will get instant reply, hope that you can find out more from http://www.indianapolilifeinsurance.net
